The import value of tanning, dyeing extracts, tannins, and pigments to Malaysia has shown varied trends from 2013 to 2023. After a decline in the mid-2010s, values generally increased, peaking at 976.48 million USD in 2023. The fluctuations show a diverse range of year-on-year variations, with notable increases in certain years such as 2017 and 2021 and a significant dip in 2020. The last recorded CAGR over five years, ending in 2023, was 2.07%.
Looking ahead, forecast data suggests a steady increase in imports, with a projected CAGR of 1.64% from 2024 to 2028 and a total growth rate of 8.47%. Various factors such as global supply chain dynamics, economic conditions, and advances in tanning and dyeing technologies could affect future trends.
Future trends to watch for:
- Global economic recovery post-pandemic, which could increase demand.
- Technological advancements in tanning and dyeing sectors.
- Potential trade agreements or tariffs influencing import values.
